The everyday life of our society is increasingly influenced by digitalization. While the baby boomer generation is becoming increasingly fond of digitization, digital natives are already used to being able to control all communication and business on the move from their smartphones.
Driven by the digital customer experience in other industries, customers’ expectations are rising in banking as well. They have long since become accustomed to the benefits of digitization. For example, 69% of German customers already used online banking in 2019. Due to the lockdown in the wake of the Corona pandemic, digitization recently received an enormous boost. As the spread of the disease was exponential, so too was the use of digital technologies to conduct banking transactions.
However, digital channels will not completely replace interpersonal interaction with an advisor. Especially for larger and more emotional decisions, personal interaction with an advisor is still valued. Although more than 90% of bank customers research a product online before buying it, only 25% of all purchases are made via digital channels.
To accommodate these changes, both branch banks and direct banks must transform themselves into hybrid banks. There is enormous growth potential in this – while at the same time increasing efficiency and saving costs. The prerequisite for this is a realignment of the business model in retail banking. Consileon is happy to support you in this digital transformation.
In order to learn the principles and practices of agile software development not only in theory, the Friedrich Alexander University of Nuremberg-Erlangen offers its students the AMOS (agile methods and open software) course. In the course, led by Prof. Dr. Dirk Riehle, students gain insights into software development as it is actually used in the free economy. Together with a selected industry partner, students implement a software project in practice. Over the course of a semester, Consileon supported a team of five students in the implementation of digitact , a recruiting app tailored to the requirements of Consileon Business Consultancy. By completely digitizing the application process, not only applicants but also HR managers save unnecessary paper. This not only simplifies the entire procedure, but is also good for the environment.
From mid-April to the end of July, the multinational team of students worked on digitact. In weekly sprints, with regular feedback rounds involving Consileon, the result was a recruiting app as open source software, the use of which is now planned at Consileon.
Our employees Dirk Siegel, Thomas Harer and Thorsten Jäger supervised the student developer team as IT experts. Due to the great cooperation and the excellent result, a further participation in the AMOS project is planned for the coming semester.
Additional information on the AMOS project can be found here.
Dirk Siegel
+49 151 15677 087
dirk.siegel@consileon.de
Thomas Harer
+49 173 344 59 97
thomas.harer@consileon.de
Thorsten Jäger
+49 1522 2877 991
thorsten.jaeger@consileon.de
The customer base showed a broad distribution and high heterogeneity with regard to relevant KPIs such as customer size (AuM), customer structure, product/service usage behavior, support intensity, contribution to earnings, profitability, margin, etc. Possible additional revenue potentials should be identified, business case scenarios (worst/mid/best case) should be simulated and subsequently a holistic profitability management approach should be implemented. Project Approach:
Consileon has helped many companies realize this potential, and we would be happy to help you too – let’s talk about it.
It is not easy to find the right mix of modular, customer (cluster) specific, high-margin services on the one hand and a product/service offering that is as standardized as possible on the other.
Both the breadth and depth of the offering must be critically reviewed at regular intervals in light of the current and future customer portfolio.
Digitization can provide valuable assistance in the efficient provision of individualized services.
Consileon has accompanied many companies in the review and digitalization of their product/service offering – come and see us.
A structured sales activity/campaign management process can significantly increase success/completion rates. It requires not only the identification/definition of sales potential topics, but also an end-to-end view of all sales activities, the clear definition of tasks, roles, responsibilities, delivery objects and timelines, and ensuring alignment across all sales channels.
Get in touch with us – Consileon has profound and long-standing experience in optimizing campaign management (planning, preparation, execution, follow-up, measurement) from a multitude of projects.
Holistic 360-degree customer advice on all aspects of finance, retirement planning and insurance, understanding of different needs in different phases of life, access to information and advice when I want it, at what level of intensity and via which channel. What customer doesn’t want that?
In most cases, however, they receive product advice/sales and only average service quality across all sales phases (pre-sales/sales/after-sales) – Consileon helps you and your sales team to redefine holistic consulting, to systematically identify existing customer potential, to have the right services with the appropriate benefit arguments at hand, and thus to ensure greater customer satisfaction/loyalty and, as a result, to be able to significantly increase revenues. Get in touch with us.
A holistic approach that places the focus of sales measures/measurement/control on the overall customer relationship has advantages for customers, customer advisors, management, and the organization as a whole.
Systematic benchmarking of customer profitability, definition of target margin bands, sales support through sales leads, activity/success measurement through a management information/control cockpit, and structured change management are guarantees of success for “the next level” sales.
Consileon supports you to go this way together with your sales force and to increase your average profitability per customer(s) – let’s talk about it.
Systematic price management with strategic, tactical and operational measures represents an important earnings lever for successful companies.
The joint development of pricing strategy principles/guidelines, the professional orchestration of pricing structures/models/levels, the supporting use of pricing simulation tools as well as the provision of special conditions calculators/workflows/guidelines offers a lot of additional revenue potential.
Get in touch with us – Consileon can help you very quickly to identify optimization potentials by means of a pricing audit or health check and help you to leverage them.
Only the establishment/expansion and maintenance of long-term, stable customer relationships leads to a sustainable and profitable business model.
To do this, it is absolutely essential to understand customers and their needs and expectations in order to be able to provide a suitable product/service offering via the appropriate channels at the right time and to address customers in an individualized manner.
Systematic customer data analysis (e.g. using statistical-mathematical models and Artificial Intelligence help to identify customer segments/clusters/profiles, based on which to create intelligent “front-to-back” and wherever possible (fully) digitalized customer journeys as well as to have effective/efficient product/service offerings ready.
Consileon helps you to better understand your customers and thus to serve them more successfully – talk to us.
Successful growth requires a continuous and comprehensive review of one’s own competitiveness/positioning along various business drivers.
For this purpose, a comprehensive and systematic analysis of the business score card and a comparison with industry benchmarks is of central importance. The results allow the identification of initial starting points for optimization potential as a basis for further discussion and prioritization on the basis of scoring models. Impact simulations and holistic business case considerations allow conclusions to be drawn regarding the additional revenues to be generated.
The resulting, targeted definition, implementation and performance measurement of business development measures provides the basis for sustainable and positive business development – talk to us, Consileon has many years of experience and expertise in this area.
